Financial instruments disclosure practices : evidence from Malaysian listed firms

The current changes in business settings have directed companies to conduct businesses at the international level which requires the use of financial instruments. The-mandatory MFRS 7, an adoption of IFRS 7 standard has been implemented for entities to disclose their involvement with financial instr...

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Main Authors:	Adznan, Syaimaa', Puat Nelson, Sherliza
Format:	Article
Language:	English
Published:	Faculty of Economics and Business, Universiti Kebangsaan Malaysia 2015
Subjects:	H96 Public policy (General), Policy sciences
Online Access:	http://irep.iium.edu.my/47472/ http://irep.iium.edu.my/47472/1/syaima_and_sherliza_2015.pdf

id	iium-47472
recordtype	eprints
spelling	iium-474722016-07-19T02:23:23Z http://irep.iium.edu.my/47472/ Financial instruments disclosure practices : evidence from Malaysian listed firms Adznan, Syaimaa' Puat Nelson, Sherliza H96 Public policy (General), Policy sciences The current changes in business settings have directed companies to conduct businesses at the international level which requires the use of financial instruments. The-mandatory MFRS 7, an adoption of IFRS 7 standard has been implemented for entities to disclose their involvement with financial instruments. Thus, the aimed of this study is to investigate the financial instruments disclosure practices (FID) among Malaysian listed companies; specifically, on the level of compliance with MFRS 7. The overall results indicate that companies complied with MFRS 7, though there are several requirements omitted by companies. Furthermore, with the revised of Malaysian Code of Corporate Governance (MCCG) in 2012, this study examines the association of corporate governance mechanisms (board expertise, audit committee independence, audit fee, external and internal audit functions) with the extent of FID among companies. Based on a total sample of 319 Malaysian public listed companies for financial year end 2012, the analysis revealed that FID is significantly and positively associated with audit committee independence and external audit functions, while internal audit is negatively associated. Hence, it suggests that effective corporate governance is crucial as this is likely to have some influence on the extent of disclosure level among companies. Faculty of Economics and Business, Universiti Kebangsaan Malaysia 2015 Article PeerReviewed application/pdf en http://irep.iium.edu.my/47472/1/syaima_and_sherliza_2015.pdf Adznan, Syaimaa' and Puat Nelson, Sherliza (2015) Financial instruments disclosure practices : evidence from Malaysian listed firms. Asian Journal of Accounting and Governance, 6. pp. 37-48. ISSN 2180-3838
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	H96 Public policy (General), Policy sciences
spellingShingle	H96 Public policy (General), Policy sciences Adznan, Syaimaa' Puat Nelson, Sherliza Financial instruments disclosure practices : evidence from Malaysian listed firms
description	The current changes in business settings have directed companies to conduct businesses at the international level which requires the use of financial instruments. The-mandatory MFRS 7, an adoption of IFRS 7 standard has been implemented for entities to disclose their involvement with financial instruments. Thus, the aimed of this study is to investigate the financial instruments disclosure practices (FID) among Malaysian listed companies; specifically, on the level of compliance with MFRS 7. The overall results indicate that companies complied with MFRS 7, though there are several requirements omitted by companies. Furthermore, with the revised of Malaysian Code of Corporate Governance (MCCG) in 2012, this study examines the association of corporate governance mechanisms (board expertise, audit committee independence, audit fee, external and internal audit functions) with the extent of FID among companies. Based on a total sample of 319 Malaysian public listed companies for financial year end 2012, the analysis revealed that FID is significantly and positively associated with audit committee independence and external audit functions, while internal audit is negatively associated. Hence, it suggests that effective corporate governance is crucial as this is likely to have some influence on the extent of disclosure level among companies.
format	Article
author	Adznan, Syaimaa' Puat Nelson, Sherliza
author_facet	Adznan, Syaimaa' Puat Nelson, Sherliza
author_sort	Adznan, Syaimaa'
title	Financial instruments disclosure practices : evidence from Malaysian listed firms
title_short	Financial instruments disclosure practices : evidence from Malaysian listed firms
title_full	Financial instruments disclosure practices : evidence from Malaysian listed firms
title_fullStr	Financial instruments disclosure practices : evidence from Malaysian listed firms
title_full_unstemmed	Financial instruments disclosure practices : evidence from Malaysian listed firms
title_sort	financial instruments disclosure practices : evidence from malaysian listed firms
publisher	Faculty of Economics and Business, Universiti Kebangsaan Malaysia
publishDate	2015
url	http://irep.iium.edu.my/47472/ http://irep.iium.edu.my/47472/1/syaima_and_sherliza_2015.pdf
first_indexed	2023-09-18T21:07:33Z
last_indexed	2023-09-18T21:07:33Z
_version_	1777411034567409664

Financial instruments disclosure practices : evidence from Malaysian listed firms

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